I am progressing with the sale of my home in West Croydon and the estate agent has just called to say that the purchasers are swapping solicitor. The excuse is that the mortgage company will only engage with solicitors on their approved list. On what basis would a leading lender only work with specific lawyers rather the firm that they want to appoint to handle their conveyancing in West Croydon ?
UK lenders have always had an approved set of law firms they are content to work with, but in the past few years big names such as Nationwide, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for decades.
Banks point to the increase in fraud by way of justification for the pruning – criteria have been narrowed as a smaller panel is easier to keep an eye on. Banks tend not to reveal how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels. Plenty of firms do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The purchasers are unlikely to have any sway in the decision.
Our bank has recommended a law firm on their panel based in West Croydon but I would rather instruct a conveyancing lawyer in West Croydon or nearer to where I live. Can you assist?
Far from all West Croydon conveyancing firms are listed all banks conveyancing panel. Use our find an approved solicitor tool to locate a West Croydon conveyancing firm on the on the bank panel.
I am helping my niece sell her house in West Croydon. Will the solicitor arrange the energy performance certificate or do I organise this?
After the demise of Home Information Packs, energy assessments remained a required element of selling a property. An energy performance certificate needs to be to hand prior to the property being marketed. It is not a task that lawyers ordinarily arrange. Where you are instructing a West Croydon conveyancing solicitor they might help arrange energy performance certificates given their relationships with long established local accredited person
When it comes to lenders such as Virgin Money, do West Croydon conveyancing practitioners have to pay a fee to be on the conveyancing panel?
We are unaware of any lender fees to be on their panel, although some do levy an administration charge to deal with the processing of the conveyancing panel submission.
About to purchase flat in West Croydon. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Coventry BS conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the West Croydon property lawyer is on the Coventry BS conveyancing panel.
Over the last few months I have been searching for a flat up to £305k and found one close by in West Croydon I like with amenity areas and station nearby, however it only has 52 years on the lease. There is not much else in West Croydon in this price bracket, so just wondered if I would be making a mistake purchasing a lease with such few years left?
If you require a home loan the shortness of the lease will be an issue. Discount the offer by the expected lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for at least 2 years you may request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should consult your conveyancing lawyer concerning this.
I need to appoint a conveyancing solicitor for remortgage conveyancing in West Croydon. I've chance upon a web site which looks to be the perfect offering If there is a chance to get all formalities completed via web that would be preferable. Do I need to be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I today plan to offer on a house that appears to be perfect, at a reasonable figure which is making it more attractive. I have subsequently been informed that it's a leasehold rather than freehold. I would have thought that there are issues buying a house with a leasehold title in West Croydon. Conveyancing solicitors have are soon to be appointed. Will my lawyers set out the implications of buying a leasehold house in West Croydon ?
Most houses in West Croydon are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area who can assist with the conveyancing process. it is apparent that you are buying in West Croydon so you should seriously consider shopping around for a West Croydon conveyancing solicitor and be sure that they are used to advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a tenant you will not be entirely free to do whatever you want with the house. The lease will likely included provisions for example obtaining the landlord’spermission to carry out changes to the property. It may be necessary to pay a contribution towards the upkeep of the communal areas where the house is located on an estate. Your lawyer should appraise you on the various issues.
I have tried to negotiate informally with with my landlord to extend my lease without success. Can one apply to the Leasehold Valuation Tribunal? Can you recommend a West Croydon conveyancing firm to represent me?
Absolutely. We can put you in touch with a West Croydon conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a West Croydon premises is 29 Woodstock Road in April 2014. the Tribunal determined that the premiums to be paid into court in respect of the purchase of the freehold registered at HMLR under Title N0.SY3997 should be £7,217. This case affected 4 flats. The remaining number of years on the lease was 98 years.